Protective disclosure and informative disclosure are two types of disclosures as interpreted by the:
A)FTC.
B)FASB.
C)AICPA.
D)SEC.

Question

Quizplus · Accepted Answer

Protective disclosure and informative disclosure are two types of disclosures as interpreted by the SEC (Securities and Exchange Commission) which regulates the securities industry in the United States. The FTC (Federal Trade Commission) regulates issues related to consumer protection, competition, and antitrust laws. The FASB (Financial Accounting Standards Board) sets accounting standards while the AICPA (American Institute of Certified Public Accountants) represents certified public accountants and guides them with professional standards.

Protective Disclosure and Informative Disclosure Are Two Types of Disclosures